first_imgToday’s roundtable was organized in collaboration with TiE Delhi, and had a special emphasis on the online education sector with three out of the five entrepreneurs presenting education businesses. Ankur Mehra and his associate Aditya started off by introducing GuruVantage. Ankur and Aditya have determined that training managers at various Indian companies need help with vetting the quality, methodology and infrastructures of various training institutes, training vendors and such. Sramana Mitra is a technology entrepreneur and strategy consultant in Silicon Valley. She has founded three companies, writes a business blog, Sramana Mitra on Strategy, and runs the 1M/1M initiative. She has a master’s degree in electrical engineering and computer science from the Massachusetts Institute of Technology. Her Entrepreneur Journeys book series, Entrepreneur Journeys, Bootstrapping: Weapon Of Mass Reconstruction, Positioning: How To Test, Validate, and Bring Your Idea To Market and her latest volume Innovation: Need Of The Hour, as well as Vision India 2020, are all available from Amazon. In response to that, they are proposing a solution to do both pre-hiring and post-hiring. Prior to hiring, for example, training managers need to assess where candidates have been trained, and what is the quality of training that they provide. In addition, there are additional training needs post-hiring, which training managers address often by hiring training vendors.The key question that Guruvantage needs to answer is whether training managers are willing to pay for the solution or not. If the answer is yes, then the next question is how much are they willing to pay? What this leads us to is first, value proposition validation, then business model validation, followed by pricing model validation. Each stage of validation helps enhance the valuation of a company. And in 1M/1M, we always emphasize the best practice of building as much value, validation and valuation upfront.In addition, we had a specific discussion about segmentation alternatives – based on size of company, vertical, and geographical. Guruvantage has a large vision of doing this kind of training assessment for a wide variety of sectors ranging from engineering to business to the arts. All very well, but they have to pick a segment to enter through. As I told them, by trying to cater to everybody, you end up catering to nobody. You HAVE to go segment by segment.ARROWDevesh Verma was up next to present ARROW, a finishing school solution that helps college graduates become employable. Devesh addresses the issue that a large portion of Indian college grads are not employable because of a lack of essential skills, especially communication. Devesh has three colleges that have told him that they are willing to pay Rs. 150,000 for training 30 students on ARROW. He expects to be able to deliver a 30-student session within Rs. 130,000. Not bad. Now I want to know whether Devesh can find 100 colleges – tier B and tier C colleges since the tier A colleges tend to have their own offerings – who are willing to pay Rs. 150,000 for ARROW. If he can, then there is a business worth building here. And pay attention to the segmentation of who is adopting vs. who isn’t; it will provide great cues to where the highest velocity entry points to the market are.Devesh asked me, “Is the Indian education sector ready for something like ARROW?” My answer is: “A sector’s readiness is a function of the customers’ readiness. So by answering the question – Will more colleges buy? – you will also be able to answer the broad question.”Global ExpertsThen Rahul Jain presented Global Experts, a community of business experts who will be tutoring, coaching and mentoring business students. Rahul has assembled a lot of content on business and management curriculums, and wants to use that to attract potential customers who will then pay to access more personal engagements with experts. In essence, he is proposing a freemium model whereby he uses content to draw in users, and then try to convert a percentage of them to paying customers in the U.S. Well, the paid content model in the U.S. has really imploded, so I have some skepticism about the viability. There are some competitors who seem to have validated the business model to a degree, like http://www.studentoffortune.com. So Rahul’s next step is to SEO-optimize the content he has put together and harness a group of users ti see if he can convert a percentage of them (average freemium conversion rate is usually 2%) to paying customers. If Rahul can get to about 5,000 paying customers, paying $250 a year, then he can get to the $1M mark. The question is, can he attract 250,000 students with his free content and then convert 2% of those to paying customers?For these three and other online education entrepreneurs, I would like to take a moment and point you to some online education case studies on my blog. Take a look at Apex Learning, Archipelago Learning, KC Distance Learning, Revolution Prep, and Global English. Intelligent MonitoringNext Vikas Hazrati and Narinder Kumar discussed Intelligent Monitoring. Vikas and Narinder have identified an interesting pain point that IT managers seem to have: a large volume of alerts from various IT monitoring systems without the ability to actionable correlation analysis. They have feedback from three to five IT managers, including one that is willing to pay them to build a solution. To them, my advice is to leverage as much of the “consulting” money that clients are willing to pay to solve the problem, and use that cash to bootstrap the business. I love this kind of customer intimacy through working closely with customers, and getting paid for it. If they can talk to 100 IT managers in the SME segment and get 10 to 15 to pay up, the entire product design and development process can be financed by customers! I referred them to the Bootstrapping To Billions case study in Entrepreneur Journeys, Volume One.SimplogyUp last was Hasnain Zaheer for Simplogy, who wants to offer marketing strategy and execution services from Australia. My advice to him is to zero in on specific marketing processes that can be offered in a remote mode, which could be email marketing, or SEO, SEM, Web design – all those being highly competitive areas – but strategy consulting cannot really be sold online.I started doing my free Online Strategy Roundtables for entrepreneurs in the fall of 2008. These roundtables are the cornerstone programming of a global initiative that I have started called One Million by One Million (1M/1M). Its mission is to help a million entrepreneurs globally to reach $1 million in revenue and beyond, build $1 trillion in sustainable global GDP, and create 10 million jobs. In 1M/1M, I teach the EJ Methodology which is based on my Entrepreneur Journeys research, and emphasize bootstrapping, idea validation, and crisp positioning as some of the core principles of building strong fundamentals in early stage ventures. In addition, we are offering entrepreneurs access to investors and customers through our recently launched our 1M/1M Incubation Radar series. You can pitch to be featured on my blog following these instructions.The recording of this roundtable can be found here. Recordings of previous roundtables are all available here. You can register for the next roundtable here.Photo by Mary Gober. Top Reasons to Go With Managed WordPress Hosting sramana mitra 8 Best WordPress Hosting Solutions on the Market Related Posts center_img Tags:#start#StartUp 101 Why Tech Companies Need Simpler Terms of Servic… A Web Developer’s New Best Friend is the AI Wai…last_img read more

first_imgRead Next Mary Anne Esguerra added 13 points while Necole Ebuen and Reginal Arocha chipped in nine each.Arellano coach Obet Javier said the Lady Chiefs’ experience in the Reinforced and Open Conferences of the league organized by Sports Vision is starting to bear fruit.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutout“I told them to use their PVL experience and help motivate their younger teammates,” said Javier.Earlier, La Salle and UST hurdled their respective rivals in the men’s side of the season-ending conference. Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles01:00Chief Justice Peralta on upcoming UAAP game: UP has no match against UST01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Brace for potentially devastating typhoon approaching PH – NDRRMC Kammuri turning to super typhoon less likely but possible — Pagasa WATCH: Streetboys show off slick dance moves in Vhong Navarro’s wedding SEA Games in Calabarzon safe, secure – Solcom chief Don’t miss out on the latest news and information. Typhoon Kammuri accelerates, gains strength en route to PH CONTRIBUTED PHOTOThe battle between current and past NCAA champions turned one-sided in favor of Arellano, which plastered St. Benilde, 25-20, 25-22, 25-17, Saturday at the start of the Premier Volleyball League Collegiate Conference at Filoil Flying V Centre in San Juan.Jovielyn Prado led the Lady Chiefs with 14 points in the rematch between semifinalists of last NCAA season’s tournament.ADVERTISEMENTcenter_img LOOK: Venues for 2019 SEA Games WATCH: LeBron James rocks Manila for third time View comments UPLB exempted from SEA Games class suspension MOST READ LATEST STORIES The Green Spikers fought back from a set down to turn back the St. Benilde Blazers, 25-27, 26-24, 25-23, 25-22, while the Tigers dominated the UP Maroons, 25-17, 25-22, 25-15.Meanwhile, junior volleyball gets a big shot in the arm as the UAAP and Sports Vision joined hands for the tournament that starts Sept. 9.Unlike in previous seasons where the UAAP juniors competitions are held at school gyms, the girls’ and boys’ tournament will now be played at Filoil Flying V Center in San Juan.“In our continuing effort to develop the sport, particularly our young players, we will provide them good playing conditions which will help raise the level of competition,” said Sports Vision president Moying Martelino.The matches will be played in between the men’s and women’s games of the Collegiate Conference every Monday, Wednesday and Saturday.ADVERTISEMENT Catriona Gray spends Thanksgiving by preparing meals for people with illnesseslast_img read more